Pricing Decisions

Consumer Surplus:
Difference between the price consumer is willing to pay and consumer actually pays
Example: Bargain on shirt
The price of a shirt is 1000 rupees, consumer ask the same shirt price as 400rupees, but actually consumer purchased 550 rupees, and consumer willing to pay is 750 rupees.
                  750-------willing to pay
                  550-------Purchase rate
                  200-------Consumer surplus
Producer Surplus:
Difference between the price producer is willing to sell and the price actually sold
Example:
my selling price of saree is 1000rupees, i told the customer the saree price is 1500rupees,and i sold the saree at 1200 rupees.
                     1000-----Willing to sell
                     1200-----Actually sold
                      200-----Producer surplus.